Single-payment Loan definition

Single-payment Loan means an extension of credit in the form of a loan to one or more individuals (other than a partnership), which is repayable in a single payment whether on demand or on a fixed or determinable future date, and which is in a principal amount of $1,500 or less; but the definition does not include (1) a loan made for business purposes to a business enterprise which is not for the purpose of pur­ chasing a listed article, (2) a loan for agricultural purposes to a per­ son engaged in agriculture which is not for the purpose of purchasing a listed article or (3) any loan u p o n the se cu rity o j any obligation which arises out of any instalment sale, instalment loan, charge account or single-payment loan.
View Source
Single-payment Loan means an extension of credit in the form
View Source

Related to Single-payment Loan

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Monthly Payment Advance means, with respect to any 20[•]-[•] Lease and any Collection Period, an amount equal to the difference between the Monthly Payment due and the Lessee Partial Monthly Payment.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Loan Payment means any amount payable by the Loan Parties to the Bank pursuant to the Legal Agreements or these General Conditions, including (but not limited to) any amount of the Withdrawn Loan Balance, interest, the Front-end Fee, interest at the Default Interest Rate (if any), any prepayment premium, any transaction fee for a Conversion or early termination of a Conversion, any premium payable upon the establishment of an Interest Rate Cap or Interest Rate Collar, and any Unwinding Amount payable by the Borrower.”